The Chinese domestic manganese ore market has followed a stable trend during the recent holiday period and also since the return from the holiday.
The mainstream quotations of Australian lump ore with 46 percent Mn content currently stand at $8.81/dmtu (RMB 58/dmtu) at China’s Tianjin port, while offers of lump ore of 48 percent Mn content are at $8.36/dmtu (RMB 55/dmtu). Also at Tianjin port, quotations for 44 percent grade Mn ore from Gabon are at $8.81/dmtu (RMB 58/dmtu), while offers of South African lump ore of 38 percent Mn content are at $7.14/dmtu (RMB 47/dmtu).
Overall trading activity in the Chinese manganese ore market has remained at low levels. Downstream manganese alloy prices have recently declined, while demand for manganese ore has decreased due to restrictions on production of manganese alloys. Overseas suppliers have kept their manganese ore quotations unchanged, thereby providing support for the stability of manganese ore prices in China. It is believed that manganese ore prices in the Chinese market will follow a mostly stable trend in the coming week, with slight reductions possible due to the weakness of demand.
$1 = RMB 6.58